Tuesday, May 13, 2008

Market opens higher.

The market today opens higher on the back of positive cues from the global markets. The significant buying witnessed across the board in the opening trade. The Realty, Consumer Durables, Metal and Capital Goods stocks are in demand in the opening trade. The Mid Cap and Small Cap are also trading in line with the bench mark index.

The overall market breadth is positive as 1342 stocks are advancing whereas 314 stocks are declining on BSE.

At 10.30AM, the BSE Sensex was up by 160.66 points at 17,021.56 and the Nifty was up by 39.45 points to 5,052.10.

The BSE Mid Cap increased by 124.72 points to 7,070.63 and the BSE Small Cap advanced by 148.47 points to 8,552.03.

Hindalco Industries reported the top gainer from the BSE Sensex pack. It is trading with a gain of 3.92% at Rs.181.75 while Bharti Airtel reported the top loser down by 1.28% at Rs.827.50.

BSE Metal index advanced by 274.83 points to trade at 15,922.14. The major gainers are Hindalco Industries, NALCO, Tata Steel, and SAIL grew by (3.92%), (2.19%), (2.07%) and (0.74%) to Rs.181.75, Rs.461.25, Rs.860.30 and Rs.170.70 respectively.

BSE Realty improved by 163.09 points to trade at 7,900. The top gainers are Purvankara inclined by (4.43%) to Rs.276, Mahindra Life increased by (3.71%) at Rs.629 followed by India Bull Real and HDIL up by (3.87%) and (2.33%) to Rs.537.95 and Rs.750.

Ranbaxy Laboratories is trading higher by (0.56%) at Rs.497.40. The company has signed a strategic product development agreement with German pharma major Merck for drug discovery and clinical development collaboration in the anti infective field. As per the agreement, both the companies will work together to develop clinically validated anti-bacterial and anti-fungal drug candidates.

BHEL advanced by (1.12%) to Rs.1,765.35. The company is planning to set up an country''s biggest 125 MW IGCC power plant at Vijaywada. It will be an integrated Coal Gasification Combined Cycle (IGCC) power plant with Andhra Pradesh Power Generation Corporation (APGenco).

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